"BUY NIFTY 11600 25 APRIL PUT @ 101 TGT 116/130"
Bears continued to grip the markets…!!!!The market cracked heavily in
trades today after
the International Monetary Fund downgraded India's growth forecast to 7.3% for
2019. The Sensex fell as much as 397 points to touch intraday low
of 38542 and the Nifty index dropped as much as 100 points to intraday low of
11571. IMF's cut in growth outlook comes after ADB and the Reserve Bank of
India cut India's economic growth outlook to 7.2% for 2019 earlier this month.
Also caution ahead of the March quarter earnings season is leading to investors
stay on the side-lines.
Nifty has been consolidating
in a narrow range of 11560 -11740, since the past few trading session. In the
short term, breach of 11500 is expected to limit the upsides for the April
series and push the index towards 11450 -11400 levels.
More
about intraday tips on Google +
Resistance: 11650, 11700,
11750
Support: 11500,
11450, 11400
No comments:
Post a Comment